Insurance Newsletter October 2014
On 17. and 18.09.2014, the 70th Deutsche Juristentag in Hannover discussed the reform of D&O liability and passed resolutions to promote the political discussion. The debate repeatedly came back to D&O insurance, which was, however, perceived there more as an obstacle than as a part of the solution. In particular, the structure as insurance for the account of a third party with the policyholder not having a claim against the insurer was described by some participants openly as a defective development, which in turn brought forth calls for regulation and individual policies for the insured persons.
Such criticism is also crucially based on a false expectation in relation to D&O insurance. This nevertheless shows that the significance and functioning of this product continues to require a transparent explanation from the broker but also from the insurer.
In our leading article, we inform you of the resolutions of the Deutsche Juristentag and provide a perspective for the resulting discussions.
In addition to the editorial in this regard, the newsletter includes an overview of new judgements, legislation and notices as well as our insurance calender.